It's just for temporary financing. 

If the rate isn't important, or just temporary, and the cash out is more important, there are other lending programs/solutions with higher rates and/or points.Best of luck!

Moreover, if the deal is that desirable, agree to the temporary occupancy, as you mentioned, and pay for his moving expense.

Referencing my above comments about interest rates, interest rates are temporary and should not discourage people from purchasing real estate.

NYC based, living in a mortgaged house, and also own a NJ Shore house that is slightly more profitable than break even on an annual basis.

I've lived in Jacksonville for 30+ years and have a home in Lake Shore and a rental home in Murray Hill.

However, temporary regulations indicate that if an individual participates in an activity for 100 hours or less during the year, this “facts and circumstances” test is not available.

HSBC can help you get checking accounts setup in almost any country.We are taxed on our world wide income in the US, but that’s not that big of deal, as we have treaties with other counties to help avoid double tax, and you can always setup up IBC in Cook Island, or St Kitts & Nevis, thus off shoring the income earned outside of the US, if you bring it home you will have to pay taxes on it.

Yield is temporary but basis is forever

If it's short term rentals, I don't know the entire state, but many places along the shore are getting much more strict about allowing them so you would want to do research on str friendly areas.